naturalgas
Turkey is in discussions with US energy giant ExxonMobil regarding a multibillion-dollar deal to buy liquefied natural gas. In an interview with the Financial Times, Turkish energy minister Alparslan Bayraktar said that his country was hoping to diversify its energy providers, therefore bolstering national security. As part of the proposed deal, Turkey would secure up to 2.5 million tonnes of LNG a year from Exxon, at a cost of around $1.1 billion. The agreement could last a decade, although the exact conditions were yet to be determined, Bayraktar said. Watchdog urges caution on reducing Russ...
Euronews (English)
French energy company TotalEnergies announced its first quarter 2024 earnings on Friday morning, announcing a 22% decline in Q1 2024 earnings, mainly due to shrinking natural gas profits. However, a stronger-than-expected oil market did manage to offset this somewhat, although increasing crude oil prices could pose a problem for refining margins in the next few months, according to TotalEnergies. Adjusted net income for the first quarter of the year surpassed market expectations, coming in at $5.1 billion (€4.75 billion), more than the $5 billion previously anticipated by London Stock Exchange...
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The Netherlands has officially stopped drilling at the Europe's largest gas field in Groningen, marking the occasion with a symbolic ceremony on Friday. The occasion took place at the same spot where the deposit was reportedly discovered in 1959. Since the early 1960s, the field has been a major contributor to the country's economy and it still has huge reserves of gas. But over the years it has become clear the drilling has caused a spike in seismic activity. The problem became acute in the 2010s. In 2012, Groningen was hit with a 3.6 magnitude earthquake: the strongest in the history of the ...
Euronews (English)
Imports of Russian liquified natural gas (LNG) remain a source of energy security for the EU and should only be reduced in “gradual steps” to avoid disruptions in supply, an EU watchdog warned. The advice was published in a report today (April 19) by ACER, the EU agency for the cooperation of energy regulators, offering analysis on European LNG market developments, which noted that the EU imported 18 billion cubic metres (bcm) of Russian LNG in 2023 via the Yamal pipeline, mostly through long-term supply agreements signed before 2022. The report flagged that increasing EU reliance on Russian L...
Euronews (English)
The European Commission has been urged not to rush through legislation defining when a fuel can be considered ‘low-carbon’, a question that will determine what technologies qualify for policy and financial support, with far-reaching implications for the future of the natural gas industry. Following a political agreement with government delegates late last year, the European Parliament is expected to adopt next week a Gas and Hydrogen Markets Directive, which will give the EU executive one year to answer the complex question of what constitutes a ‘low-carbon’ fuel. Environmental groups, joined ...
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Increasing fossil fuel production is highly rewarded at most of the world’s largest oil and gas producers, despite their ambitious climate targets, according to a report from the financial think tank, Carbon Tracker. The study entitled, 'Crude Intentions II', analyses the 2022 policy of incentives at 25 of the largest publicly-listed companies by production volume based outside Russia. It found that only one of these companies – Occidental Petroleum – doesn't promise extra pay for such growth. The worst offendersDespite a growing number of companies rewarding executives for preparing for the t...
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An EU joint tendering platform for gas contracts designed to help the continent stand without Russia was three times oversubscribed attracting a total volume of 97.4 billion cubic meters (bcm) from international suppliers, the EU executive announced today (28 February). The tender, carried out through AggregateEU, the matching platform launched in 2023 to ensure sufficient energy supply for the winter 2023-2024, started on February 15 and closed last night. The platform was created to aggregate EU gas company demand and attract supplies from international contractors. This year the matching pl...
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British farmers have paid an additional £1.45 billion (€1.7 billion) for fertiliser since Russia’s invasion of Ukraine. A new analysis from the UK’s Energy and Climate Intelligence Unit (ECIU) found that prices have soared, leading to billions more in costs and leaving farmers increasingly turning to nature-based solutions instead. British farmers spent around £1.42 billion (€1.66 billion) on fertiliser in 2022 and £964 million (€1.1 billion) in 2023, according to the ECIU. Compared to the £470 million (€550 million) they spent in 2020 - the last normal year before prices soared - the organisa...
Euronews (English)
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